Vesting of 2017 Directors Performance Share Plan

RNS Number : 7854N

Ten Entertainment Group PLC

22 May 2020

 

22 May 2020

Ten Entertainment Group plc

Vesting of 2017 Directors Performance Share Plan Awards

Ten Entertainment Group plc (the "Company") announces that on 22 May 2020, the Performance Share Plan awards granted in the 2017 scheme on 22 May 2017 have vested. The awards were granted to the three Executive Directors at the time, of which only Graham Blackwell is still with the Company. Continuous employment over the term of the scheme is a performance condition and thus only Graham Blackwell can exercise his options.

The Remuneration Committee reviewed the other performance conditions of the scheme with 50% applying to Earning per Share (EPS) and 50% to Total Shareholder Return (TSR). Only the TSR performance condition was met and so the Remuneration Committee have only approved the vesting of 96,970 ordinary shares in the Company. The Company has elected to settle the awards via the issuance of ordinary shares.

Following the vesting of shares in respect of the Company's awards under the 2017 Performance Share Plan, application has been made to the UK Listing Authority and the London Stock Exchange plc for 96,970 ordinary shares of 1p each in the Company ("Shares") to be admitted to the Official List.

The Shares will rank pari passu with the Company's existing ordinary shares and dealings are expected to commence at 8.00am on 26 May 2020. Following admission of the Shares, the Company will have a total of 68,346,970 ordinary shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interests in, the Company under the FCA's Disclosure and Transparency Rules.

Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2019 Annual Report. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Graham Blackwell
2.	Reason for the notification
a.	Position/status	Chief Commercial Officer
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Ten Entertainment Group PLC
b.	LEI	213800SL9HJUQ5BGPX17
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Ordinary Shares of 1p each ISIN: GB00BF020D33
b.	Nature of the transaction	Award of performance shares
c.	Price(s) and volume(s)	Price(s) Volume(s) nil 96,970
d.	Aggregated information ·Aggregated volume ·Price	96,970 nil
e.	Date of the transaction	22 May 2020
f.	Place of the transaction	London Stock Exchange, Main Market (XLON)

Enquiries: Ten Entertainment Group plc Duncan Garrood, Chief Executive Officer Antony Smith, Chief Financial Officer and Company Secretary	via Instinctif Partners
Instinctif Partners Matthew Smallwood, Jack Devoy	Tel: [phone]

 

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